AOMC to merge with OEM Inc., creating a $1B controlled deep-sea critical minerals platform

American Ocean Minerals Corporation and Odyssey Marine Exploration informed that they have entered into a definitive merger agreement to build what is set to become one of the largest U.S. controlled platforms focused on deep-sea critical minerals, including polymetallic nodules rich in nickel, cobalt, copper, and manganese.

$1 billion platform backed by strategic capital

Valued at approximately $1 billion on a pro forma basis, the combined entity represents more than just scale, it reflects a strategic shift toward securing resilient, diversified, and domestically aligned supply chains. With over $230 million in committed equity capital, including a $150+ million private placement and $75 million in pre-public financing, the company is positioned with approximately $175 million in expected cash at closing to accelerate development across multiple jurisdictions.

Experienced leadership driving industrial transformation

At its core, this transaction brings together complementary strengths. AOMC contributes a multi-jurisdictional asset base and access to highly prospective exploration areas, while Odyssey adds over three decades of offshore operational experience, intellectual property, and a public market platform. Leadership will play a defining role. The combined company will be chaired by Tom Albanese, former CEO of Rio Tinto, with Mark Justh serving as CEO, bringing extensive experience from global capital markets. The involvement of Mike Rowe as a founding investor and advisor further underscores the broader narrative.

Convergence of technology, policy, and demand

As Mark Justh stated: “This transaction comes at a pivotal inflection point, as regulatory clarity, proven offshore technology, supply chain independence initiatives, improved scientific understanding of environmental impacts and mitigation, and accelerating demand for critical minerals are converging for the first time.” This convergence is critical. It signals that deep-sea mining is transitioning from concept to implementation, supported by both technological maturity and geopolitical necessity.

From an operational standpoint, the platform is uniquely diversified. It spans U.S. regulated international waters and allied sovereign zones, including significant positions in the Cook Islands, one of the most resource-rich and advanced regulatory environments for seabed minerals. Across five key areas, the company will have access to more than 500,000 square kilometers of prospective seabed, with multi-billion-tonne resource potential already identified under S-K 1300 reporting standards.

Execution built on decades of offshore experience

Odyssey CEO Mark Gordon highlighted the continuity of execution: “This transaction builds on the foundation Odyssey has established over more than three decades of offshore innovation and operations.” This continuity matters, especially in an industry where technical complexity, regulatory navigation, and environmental accountability must align seamlessly.

From exploration to full value chainintegration

Importantly, the strategy is not limited to exploration. The combined company plans to invest across the full value chain, technical studies, environmentally responsible harvesting technologies, vessel fleets, processing capabilities, and supporting infrastructure. This integrated approach reflects a clear ambition: to move beyond resource ownership and into long-term supply chain leadership.

Regulatory strategy

From a regulatory perspective, the dual-track model, leveraging both the Cook Islands’ established legal framework and U.S. pathways under the Deep Seabed Hard Mineral Resources Act, positions the company to navigate one of the most complex aspects of deep-sea mining: permitting and governance. This is where many projects stall here, it is treated as a strategic advantage.

The broader implication is clear. As global demand for battery metals and rare earth elements continues to accelerate, and as traditional terrestrial sources face increasing constraints, deep-sea resources are emerging as a critical frontier. The formation of a $1B U.S., controlled platform signals not only market confidence, but also a shift toward securing supply chains aligned with national and allied interests.